New cars from Tesla for the 2012 model year.

The Tesla Model S arrives in mid-2012, its first 1000 examples tagged the Signature Series at $77,400. Designed from the contact patches up as an EV, the Model S will compete with cars such as the BMW 5 Series. Its 5-door hatchback sedan layout is said to provide 5+2 seating, the last pair being kids in a rear-facing third row.

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The first Model S Signature Series is expected to have a battery pack of some 8000 lithium cells offering 300-mile range. Other battery chemistries—and reduced cell counts—will be offered in later packages yielding ranges of 230 miles and 160 miles, each increment said to discount the Signature Series price by an additional $10,000.

Tesla is no longer taking orders for the Roadster. And the company is also raising $214 million through sale of additional common stock. Its goal is the development of the Model X, an SUV that would put EVs into an entirely new segment.